Dow Jones rallies over 400 points at the opening

US stock indices rose on Monday as US treasury yields lost ground with investors assessing US President-elect Donald Trump’s nomination choices. 

Analysts believe the nomination of Scott Bessent for US Treasury secretary would boost the stock market, and could contain some of Trump’s more aggressive protectionist side. 

Bessent has previously called for a more gradual approach in raising US tariffs to avoid inflation hikes.

Later today, investors await the Federal Reserve’s last meeting minutes, and US GDP growth data for the third quarter.

Otherwise, US two-year treasury yields fell by over 6 basis points today to 4.307%.

US 10-year treasury yields fell by 11.5 basis points to 4.296%, while 30-year yields fell by the same amount to 4.483%.

On trading, Dow Jones rose 0.9%, or 420 points to 44,719 points as of 15:39 GMT, while S&P 500 rose 0.4%, or 26 points to 5996 points, as NASDAQ added 0.4%, or 80 points to 19,084 points.